Zynex (NASDAQ:ZYXI) Lowered to “Sector Perform” Rating by Royal Bank of Canada

Zynex (NASDAQ:ZYXI) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $5.50 price objective on the stock, down from their previous price objective of $11.00. Royal Bank of Canada’s price objective would indicate a potential downside of 21.43% from the company’s previous close.

A number of other brokerages have also recently issued reports on ZYXI. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Zynex in a report on Friday, December 6th. LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a report on Wednesday.

Zynex Trading Down 2.4 %

ZYXI opened at $7.00 on Wednesday. The stock has a market capitalization of $222.92 million, a P/E ratio of 46.67 and a beta of 0.81. Zynex has a 12 month low of $4.36 and a 12 month high of $13.19. The firm’s fifty day simple moving average is $7.72 and its 200 day simple moving average is $8.02. The company has a current ratio of 3.94, a quick ratio of 3.15 and a debt-to-equity ratio of 1.66.

Zynex (NASDAQ:ZYXI) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.11). Zynex had a return on equity of 13.05% and a net margin of 2.49%. During the same quarter in the prior year, the firm earned $0.04 EPS. As a group, research analysts anticipate that Zynex will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $7.68, for a total transaction of $76,800.00. Following the sale, the chief financial officer now owns 19,738 shares in the company, valued at approximately $151,587.84. This trade represents a 33.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 30,000 shares of company stock worth $227,100. Corporate insiders own 52.13% of the company’s stock.

Hedge Funds Weigh In On Zynex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Zynex during the fourth quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in shares of Zynex by 138.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company’s stock worth $27,000 after buying an additional 1,975 shares during the period. Gladius Capital Management LP increased its position in shares of Zynex by 53.4% during the third quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock worth $41,000 after buying an additional 1,742 shares during the period. Investment Partners Asset Management Inc. increased its position in shares of Zynex by 10.4% during the fourth quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock worth $104,000 after buying an additional 1,220 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Zynex during the fourth quarter worth $117,000. Institutional investors own 29.68% of the company’s stock.

Zynex Company Profile

Zynex, Inc, together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; M-Wave, an NMES device.